The EU Council Tightens Iran Sanctions
August 6, 2010
On July 26, 2010, the Council of the European Union adopted a Decision implementing UN Security Council Resolution 1929 and imposing accompanying measures, with a view to providing a robust and comprehensive package of trade and financial sanctions against Iran, with particular focus on the oil and gas and insurance industries. The Council also adopted Council Implementing Regulation 668/2010 which added 74 persons and entities to the list of persons and entities identified as being engaged in or associated with Iran’s proliferation-sensitive nuclear activities, who will be subject to asset freezing. The new measures build on existing trade sanctions against Iran creating a more onerous regime to which all EU nationals and acts done within the territory of the EU are subject.